Mawer Investment Management Ltd. Reduces Holdings in RB Global, Inc. $RBA

Mawer Investment Management Ltd. lessened its stake in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 6.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 121,299 shares of the business services provider’s stock after selling 8,243 shares during the quarter. Mawer Investment Management Ltd.’s holdings in RB Global were worth $12,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in shares of RB Global by 94.3% during the first quarter. AQR Capital Management LLC now owns 10,489 shares of the business services provider’s stock valued at $1,031,000 after acquiring an additional 5,090 shares during the period. NewEdge Advisors LLC lifted its holdings in RB Global by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 588 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 204 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in RB Global by 857.9% in the 1st quarter. Jones Financial Companies Lllp now owns 3,736 shares of the business services provider’s stock valued at $375,000 after acquiring an additional 3,346 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in RB Global by 35.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 338,385 shares of the business services provider’s stock worth $33,940,000 after buying an additional 88,813 shares during the period. Finally, Woodline Partners LP acquired a new stake in RB Global during the 1st quarter worth about $4,103,000. Institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

RBA has been the topic of a number of research reports. Barclays initiated coverage on RB Global in a report on Thursday. They issued an “overweight” rating and a $124.00 target price on the stock. Royal Bank Of Canada boosted their price target on RB Global from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Stephens reiterated an “equal weight” rating and set a $96.00 price target on shares of RB Global in a report on Tuesday, May 5th. BMO Capital Markets reissued an “outperform” rating and issued a $135.00 price objective (up from $130.00) on shares of RB Global in a research report on Tuesday, May 5th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of RB Global in a research report on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $126.13.

RB Global Price Performance

Shares of RBA opened at $105.23 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.40. RB Global, Inc. has a 1 year low of $93.58 and a 1 year high of $119.58. The stock has a market cap of $19.57 billion, a P/E ratio of 48.95, a price-to-earnings-growth ratio of 1.69 and a beta of 0.57. The stock’s 50-day moving average price is $102.16 and its two-hundred day moving average price is $103.96.

RB Global (NYSE:RBA) (TSE:RBA) last released its quarterly earnings data on Monday, May 4th. The business services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. RB Global had a return on equity of 12.33% and a net margin of 9.55%.The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the business posted $0.89 EPS. RB Global’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities analysts predict that RB Global, Inc. will post 4.09 earnings per share for the current year.

RB Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.24 annualized dividend and a dividend yield of 1.2%. RB Global’s payout ratio is 57.67%.

Insider Buying and Selling at RB Global

In other RB Global news, Director Deborah Stein bought 425 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $103.15 per share, with a total value of $43,838.75. Following the acquisition, the director owned 1,825 shares of the company’s stock, valued at $188,248.75. The trade was a 30.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

RB Global Company Profile

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.